StockMarketWire.com - Analytics firm RELX has reported a modest increase to annual profits in its results for the year to 31 December 2020.

The company reported an operating profit of £1,525m, representing a 4% growth on the previous year.

Revenue from electronic sources was up 4%, but the effects of Covid were stark in the company's print revenue, down 14%, and face-to-face revenue down 73%.

Sir Anthony Habgood, chair, said: 'In a truly extraordinary year in which the Covid-19 pandemic significantly impacted the global economy and many of our customer markets, RELX continued consistently to pursue its strategic priorities, delivering another year of underlying growth in revenue, profit and cash in each of our three largest business areas.'

The company said they expect the three largest business areas, STM, Risk and Legal, to deliver another year of underlying revenue and adjusted operating profit growth in 2021, similar to pre-Covid-19 trends.

'Earnings per share is currently being impacted by Covid-19 related disruption to our exhibitions business, but we are proposing a 3% increase in the dividend to 47.0p reflecting our consistent track record and our confidence in the outlook for the company,' Sir Anthony Habgood added.

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